Canada is ready on Monday to respond to tariffs from its main trading partner, the United States, if elected Donald Trump follows through on his threat to impose them, Foreign Minister Mélanie Joly said this Friday.
The tariffs could be devastating, given that Canada sends 75% of all its exports of goods and services to the United States, and Canadian officials have emphasized the economic damage they would also cause in the neighboring country.
“We have a series of measures already prepared, certainly tariffs linked to imports. If the president goes ahead on Monday, we will be ready,” Joly told reporters after talks in Washington aimed at avoiding tariffs. “And we are ready for a second round and a third round.”
If Trump carries out his threat, Canada would immediately target a small group of goods, including orange juice from Florida, where Trump resides, a source familiar with the matter said Wednesday.
Canada has drawn up a broader list of targets but would hold public consultations before acting, according to the source, who added that the magnitude of any potential reaction would depend on what Trump does.
Canada could impose countermeasures on up to C$150 billion (US$105 billion) in U.S. imports, the source said.
Read: Canada’s tariff counteroffensive can reach 150 billion Canadian dollars
Energy and Natural Resources Minister Jonathan Wilkinson mentioned Thursday that Canada could also impose tariffs on exports of critical minerals.
Trump has said he wants to impose a 25% tariff to pressure Canada to tighten border security and stem the flow of illegal migrants and fentanyl smuggling, a move that would appear to violate a free trade agreement.
In response, Canada announced a C$1.3 billion (US$909 million) border security plan. Prime Minister Justin Trudeau stated that less than 1% of irregular migrants and less than 1% of fentanyl entering the United States come from Canada.
Read: Trump’s tariffs would force Canadian companies to raise prices
“If the time comes, we will be strong and unequivocal in the defense of Canada and Canadians,” Trudeau declared Friday at a meeting of his government’s newly created council on Canada-U.S. relations.
With information from Reuters
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